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ECB’s Panetta: Current interest rates level consistent to bring inflation down to target
European Central Bank (ECB) executive board member Fabio Panetta said on Thursday, “the current interest rates level consistent to bring inflation down to target.”
Additional quotes
May be able to ease monetary conditions if persistently weak output accelerates the decline in inflation.
Monetary tightening has not yet had a full impact and will continue to dampen demand in the future.
Risks to the Eurozone economy are tilted to the downside.
The economy remains weak in Q4 2023.
Market reaction
Soft Eurozone inflation data combined with the above dovish remarks are batterin the Euro, as EUR/USD loses 0.51% on the day to trade currently at 1.0910.
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